Dave King has not met a deadline to make an offer for Rangers’ remaining shares

Last month, the Takeover Appeal Board (TAB) found King “acted in concert” with businessmen George Leatham, George Taylor and Douglas Park when they bought shares in January 2015.

Keep up to date with ALL the latest news, transfers and goals from Scottish football plus fixtures, results and live match commentary

The four men proceeded to oust Mike Ashley’s board in a hostile takeover at Rangers in March that year.

But the TAB ruled that King should have offered to buy the rest of the shares in Rangers International Football Club PLC after the four men’s shares combined shareholding reached more than 30 per cent.

The Rangers chairman appealed their ruling in January this year but the TAB upheld the judgement last month.

And King was given a 30-day deadline – ending yesterday – to offer £11 million to buy all of the remaining shares at a price of 20p each.

According to the Daily Record, the deadline passed without King meeting the demands of the TAB.

RELATED STORIES

Lone Deal

Michael O'Halloran ordered to train on his own after going AWOL for Under-20s game with Hearts

O'HALL BY MYSELF

Role play

IT'S OFFICIAL

Willie Collum will take charge of the Scottish Cup semi-final between Celtic and Rangers at Hampden on April 23

In March, the South Africa-based businessman publicly criticised the watchdog’s decision.

He said: “I do not agree with TAB’s much delayed ruling nor follow its logic and I shall take the appropriate time to reflect upon it and consider the best course of action for myself, RIFC and its shareholders.

“The decision by TAB is part of the price I have had to pay for being determined to rescue Rangers Football Club from its previous regime and the drastic consequences of their actions.

“I do so willingly.

“The Rangers Football Club should never have become caught up in a takeover struggle.

“Those who placed it in that position bear a heavy responsibility.

“I would anticipate that, if I was to proceed with an offer on the terms TAB require, it would be rejected by the overwhelming majority of RIFC’s shareholders and therefore not receive the level of acceptances necessary to proceed.”

SunSport Online has contacted Rangers and the Takeover Appeal Board (TAB) for comment.

ABERDEEN 0 RANGERS 3

We pay for your stories and videos! Do you have a story or video for The Scottish Sun Online? Email us at scottishsundigital@news.co.uk or call 0141 420 5266